Marriott International Inc (New) (MAR) Q4 2019 Earnings Call Transcript

Marriott International Inc (New) (MAR) Q4 2019 Earnings Call Transcript

Using 2019's pace of openings our under-construction pipeline represents nearly three years of gross rooms growth while our total pipeline represents well over six years of implied rooms growth.. We are focused on adding valuable hotels that drive higher fees per room and enhance our brands.. Luxury and upper upscale rooms comprise over half of our distribution globally which is one reason our fees per room lead the industry.. Finally we are piloting a program in select international markets that lets local members earn and redeem points dining at our hotel restaurants.. Member share of occupied rooms topped 52% worldwide in 2019 up 250 basis points versus 2018 and reached 58% in North America up 320 basis points year-over-year.. Before we discuss our 2020 outlook let me talk a bit more about the coronavirus situation.. I couldn't be prouder of our associates in the Asia Pacific region who have worked tirelessly.. We continue to waive cancellation fees for hotel stays through March 15 for guests with reservations at our hotels in Greater China and for guests from Greater China with reservations at Marriott destinations globally.. At the end of 2019 we had 375 properties with roughly 122000 rooms across Greater